NEWS ANALYSIS: Accelerating gender parity with First women network




 

Accelerating gender parity with strategic supports

By Chinyere Joel-Nwokeoma

In virtually all societies, women are in an inferior position to men. Sex or gender determine more rights and dignity for men in legal, social and cultural situations, These are reflected on unequal access to or enjoyment of rights in favour of men.
There are also the assumption of stereotype social and cultural roles.
In Nigeria, gender inequality has been for decades in spite of modernization and the fact that many females have done better than men in many spheres.
Analysts are convinced that gender inequality is largely influenced by religious and cultural beliefs, as some cultures and religions still hold strongly that women are the weaker vessels created mainly to be home keepers and child bearers.
Analysts are also worried that gender inequality negatively affects status in all areas of life in society, whether public or private, in the family or labour market.
Although the Global Gender Gap Report 2018 by the World Economic Forum (WEF) shows some progress amongst the 149 countries that were indexed, the progress toward closing the gender gap is slow, because it will take 108 years to close the gender gap and another 202 years to achieve parity in the workforce, according to the report.
The report benchmarks the 149 countries on their progress toward gender parity across four dimensions – economic participation and opportunity, educational attainment, health and survival, and political empowerment.
A number of initiatives have been made by corporate organisations and governmental and non-governmental organisations to address gender imbalance in Nigeria.
One of the latest is the launch of First Women Network (FWN) by the First Bank of Nigeria Ltd., in commemoration of the 2019 International Women’s Day (IWD).
IWD is celebrated globally every March 8 to recognise social, economic, cultural and political achievements of women.
The celebration is also a call to action for accelerating gender parity.
The global theme for the 2019 celebration is “Think Equal, Build Smart, Innovate for Change” while the theme for the social media campaign is “#BalanceforBetter”.
According to the bank, the FWN initiative is an avenue for career management and mentoring for women to enable them to balance their career with private endeavours.
The aim, according to the bank, is to address gender gap and increase women representation in its senior and executive levels, as well as encourage women to tap into opportunities and contribute to nation-building.
The bank’s Chief Executive Officer (CEO), Dr Adesola Adeduntan, explains that First Women Network is targeted at the banks’ staff and customers, among others.
He believes that women can achieve more if given the necessary strategic support, hoping that the initiative
will increase the bank’s productivity and profitability.
Adeduntan notes that the initiative is also a demonstration of First Bank’s adherence to the Central Bank of Nigeria’s Sustainable Development Goals which mandate increased women representation in all banks.
The sustainable goals require that the financial services sector should adopt a quota system to increase women representation on boards to 30 per cent and that of senior management level to 40 per cent by 2014.
Adeduntan is optimistic that the FWN will address six key area – career management, personal branding, mentoring, welfare, financial planning and empowerment.
He is convinced that the initiative will address gender disparity at workplace.
“It is commonly agreed that gender parity is an essential factor influencing the advancement of institutions, economies and societies.
“Studies have shown that gender parity in corporations promotes increased performance and returns on investment.
“The need to invest in composite women empowerment and enhance their contributions at senior management levels to achieve organisational goals cannot be over-emphasised,” the CEO says.
For him, it is paradoxical that the presence of women in paid employments continues to increase, yet the progression of professional women to positions of leadership and management remains slow.
“Gender gaps persist in economic opportunities and political participation in
many countries.
“This is part of the reasons for this women network initiative,” he notes.
The chief executive officer wants employers of labour and the entire society to encourage women to advance, excel and contribute optimally in workplaces and communities.
Mr Abiodun Famuyiwa, Group Head, Products and Marketing Support, promises that FirstBank will continue to promote female entrepreneurship for national growth and development.
“We recognise that promoting female entrepreneurship and independence is key to economic viability of every home in the country,” he says.
According to him, FWN is a further demonstration of the bank’s commitment to women empowerment after the launch of FirstGem in 2016.
He is satisfied that FirstGem is providing opportunities for women to achieve their financial goals and aspirations through with access to support funds, free business advice, specialised trainings on business development and insight on business development.
For Mr Lampe Omoyele, Managing Director, Nitro 121, an integrated marketing communications agency, points out that courage is important in addressing gender imbalance.
“For gender imbalance to be resolved, there has to be courage, vision, values and character,” he says.
He is convinced that women should have courage and confidence in taking risks within organisations.
Omoyele advises that women must not play the victims.
“Ultimately, whether you are a female or male, what is going to sustain you is your character and values.
“You need to have values; character is important in the balance that we live to, and it sustains you as you move into the future,” he adds.
The Chief Executive Officer, Standard Chartered Bank, Mrs Bola Adesola, wants women to take advantage of FWN to make their lives better.
She urges women to aspire to grow in their endeavours and refuse be limited because of their gender, stressing that they should use all resources at their disposal to grow.
For the bank chief, FWN is not a silver bullet to creating the first female chief executive officer of FirstBank, but about opportunity.
“So, it is important that as women, we take advantage of it,” she urges.
Ms Cecilia Akintomide, Independent Non-Executive Director, FBN Holdings Plc, is dissatisfied that Nigeria is still far in gender balancing.
Akintomide says Nigerian women are still being restricted from working in some places and owning some property.
According to her, restrictions are rendering 50 per cent of Nigeria’s population – mainly women – economically unviable.
A FirstBank customer, Mrs Ifeyinwa Okoye, lauds the FWN, and urges the bank to ensure that its customers – the secondary target of FWN – benefit from it.
Okoye describes women as critical to economic growth and development but regrets that many women were lagging behind in their endeavours because of gender inequality.
She wants the banks to enlighten its customers on FWN for maximum results.
“If you empower a woman, you empower a nation.
“Empowering women is especially effective because the benefits are felt throughout the whole community,” she argues.
Analysts call for more strategic support for Nigerian women to enhance gender parity. (END)

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